Moneycontrol
Dec 06, 2017 12:00 PM IST | Source: Moneycontrol.com

Reliance Infrastructure gains 2% on two EPC contracts worth Rs 5,000 cr in Bangladesh

Both the contracts are to be executed in a project schedule of 24 months, and are to be completed by 2019.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Reliance Infrastructure share price gained more than 2 percent intraday Wednesday on bagging two EPC contracts in Bangladesh together valued at Rs 5,000 crore.

"Both the contracts are to be executed in a project schedule of 24 months, and are to be completed by 2019," the Anil Dhirubhai Ambani Group company said.

The first engineering, procurement and construction (EPC) contract includes setting up the entire infrastructure of a 750 MW LNG-based combined cycle power plant at Meghnaghat (Dhaka) while the second project is for building a 500 MMSCFD floating storage regasification unit (FSRU) based integrated LNG terminal project at Kutubdia Island, both in Bangladesh.

The integrated LNG terminal project works would include setting up jetty and onshore and offshore gas pipelines.

"This power project win comes after winning an EPC order for Rs 3,675 crore from NLC India for setting up two Lignite based CFBC Thermal Power Projects of capacity 250 MW each," Reliance Infra, CEO EPC, Arun Gupta said.

Sharekhan said the contract is positive for Reliance Infrastructure.

At 11:40 hours IST, the stock price was quoting at Rs 444.60, up Rs 1.70, or 0.38 percent on the BSE.
Sections
Follow us on
Available On